BY APB Staff on 4 Aug 2020

Ferretti Group has reported record sales in Asia Pacific for 2020. The Italian builder has sold 12 new yachts, totalling 289m in length, in the region this year, with a total retail value of €70 million. It is the highest annual order intake since the group’s establishment in the region in 2012.

Interest in boating has grown to unprecedented levels amid the Covid pandemic, with increasing numbers of people drawn to the seclusion and safety of a private boat. Asia is leading the way, with Hong Kong recently emerging as one of the top destinations for yacht deliveries in the world.

Ferretti Group Asia Pacific has also signed two exclusive dealership agreements in the last two months, for distributing the Ferretti, Pershing and Riva brands. Pen Marine for Malaysia and HGB group for Cambodia and Laos were both selected as the new exclusive dealers, due in part to a commercial strengthening plan, which also includes significant investments, that Ferretti Group is implementing globally.

With these two new dealership agreements, the group now has 14 distributors in the region.

Pershing 140

In June, Ferretti Group Asia Pacific signed a strategic Memorandum of Understanding (MOU) with the Sanya Central Business District (SCBD) in Hainan. The MOU is set to allow further discussion on the possibility for Ferretti Group to invest and set up a branch in the SCBD, and to cooperate with Sanya on various aspects including yacht sales and service facilities, with a view to continued development of the industry.

Net tax rates on imported yachts to Hainan have dropped to zero as part of the island province’s new free trade zone (FTZ) policy; a sweeping plan to transform Hainan into China’s biggest free trade port by 2035.

With five projects already launched in 2020, including the Ferretti Yachts 500, Ferretti Yachts 1000, Pershing 7X, Riva 88 Folgore, Custom Line Navetta 30 and 43wallytender, Ferretti Group has made a very strong start to 2020.